Building consents top 26,000Building and Housing
The latest figures released today by Statistics New Zealand showing the number of building consents across the country reaching at an eight-year high have been welcomed by Building and Housing Minister Dr Nick Smith, who says the data confirms that good progress being made in increasing housing supply.
“There were 26,185 consents issued nationwide in the year to September 2015. This is the highest in any 12-month period since 2007 and double the low of 13,236 following the Global Financial Crisis,” Dr Smith says.
“I also welcome the 8271 consents issued for Auckland in the year to September 2015. This is up 18 per cent on the same period the last year, and the highest since 2005.
“I am further encouraged by the finding from Statistics New Zealand that the trend for consents in Auckland remains at an 11-year high. This is an important indicator of growth and the latest record in Auckland has been driven in part by an increase in the number of apartments, which are an important part of the solution to Auckland’s housing supply and affordability issues.
“Today’s figures confirm the direction of the Government’s housing policies. We are continuing to free up more land faster through the Auckland Housing Accord and the seven other Accords we have with councils across the country. We have initiatives in place to constrain building materials costs, rein in development contributions, cut compliance costs and invest in improved sector productivity. Our new $435 million HomeStart support package, which came into effect 1 April, will help 90,000 people into home ownership over the next five years.
“The Government’s focus is on growing housing supply, improving affordability and ensuring residential investors pay their fair share of tax. New tax measures came into effect on 1 October. The next steps include the Reserve Bank’s new LVR rules on investors coming into effect 1 November, and the planned second phase of reforms to the Resource Management Act, which will address the long-term issues affecting housing supply and affordability. We remain committed to supporting more New Zealand into their own home.”